Larry Wilmore to replace Stephen Colbert

5/9/14 8:01 PM EDT

Larry Wilmore, also known as The Daily Show's "Senior Black Correspondent," will get his own show on Comedy Central when Stephen Colbert decamps for CBS's "Late Show" next year.

“The Minority Report with Larry Wilmore" will be a panel-format program, providing what Comedy Central president Michele Ganeless described to The New York Times as "an opportunity for the underrepresented voices out there." Jon Stewart, the host of The Daily Show, came up with the idea.

Colbert will remain wiht Comeday Central until Dec. 17; “The Minority Report” will launch in January. The Times, which broke the news late Friday evening, has the full report.